Académique Documents
Professionnel Documents
Culture Documents
at
Submitted by
(SHUBHAM PATHAK)
(Roll no:-50)
1
CERTIFICATE
This is to certify that Mr. Rohit Kumar Pande y has worked on the topic
under my guidance. This project is a research outcome conducted by him/her as part of their
Signature
Name & Designation of the guide
2
DECLARATION
Y. Patil Vidyapeeth, Pune, is a original work done by me and has not been submitted
previously anywhere.
Date: -
Signature of Student
3
CONTENTS
· Acknowledgement
· Preface
· Executive Summary
1) INTRODUCTION TO TOPIC
Primary functions
Secondary functions
Other function
4
2.3 Functions of Insurance
2.4 Contribution to Indian Economy
2.5 Company Profile
2.6 Insurance Management Solution
2.7 Types of Business Proposals
3) RESEARCH METHODOLOGY
3.1 Objective of the Study
3.2 Scope of the Study
3.3 Data Collection
3.4 Data Analysis
3.5 Limitations
4) DATA ANALYSIS AND INTERPRETATION
4.1 Findings
5) RECOMMENDATIONS
5.1 Conclusion
6) Bibliography
7) Annexure
8) Questionnaire
5
ACKNOWLEDGEMENT
The summer project at Max Life Insurance has been a very memorable and unique experience
for me. It opened up new venues of grabbing knowledge, which will certainly stand me
helpful in the years to come.
It gives me immense privilege and pleasure in expressing my sincere gratitude and
heartfelt thanks to Mr. Kirran Nagwade for giving me the opportunity to work in his reputed
organization. I would also like to extend my thanks to all other staff at MAX LIFE
INSURANCE who have co-operated and supported me towards the successful completion of
this project.
My sincere regards and gratitude to our faculty for giving me support throughout my
M.B.A. degree and thus made me capable of being worthy of recognition.
6
I am extremely indebted and too thankful to my project guide Prof. Tapati Sarmah ,
who has been most co-operative and encouraging throughout this project. Without her
initiative and constant support this project wouldn’t have taken place.
Last but not the least I am very grateful to all the advisors who took out some
invaluable time out of their busy schedule and they responded to my questionnaire and queries
and provided me with all the valuable information.
PREFACE
These are the days of the advertising world and not the self-promoting world. Advertising is
one of the very few essential assets allocating concept which is growing at its zenith rate to
bring prosperity and progress to the teeming millions of countries where people run after jobs.
Equally important is the role of insurance advisors, where the investment field supports
advisors and takes insurance companies to boom, and gleam and yield best results.
I am really happy to present this project before the teachers as it gives me an incorporated base
for further education and knowledge of the worldly scenarios of the insurance industry.
I have tried my best to bring to you the latest picture of the various plans of M L and
insurance practices.
7
The sections and its included chapters are cordially arranged for the smooth flow of the
subject matter both for ingestion and digestion. I carried out the survey myself along with the
summarization and conclusion of the survey. For the other material I have freely drawn the
material from internet sites and books to bring to you the latest picture of the insurance
industry. Hence, I do not claim any originality, except for my style of presentation and the
survey part.
I am very thankful to Prof.Tapati Sarmah, MBA, GBSRC College, who took the burden to
explain me the movement of the project so that I could bring out the best possibility.
I have tried to be, as far as perfect: yet the dirty minds always tend to intervene keeping you in
a disguised state to any fault. Hence, I request all teachers to bring to my notice any such
mistakes or any facts so that I can rectify them and increase my knowledge base. I welcome
every suggestion regarding the project matter and status as I believe in the proverb
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EXECUTIVE SUMMARY
OBJECTIVE: Identify the areas where the performance of Max Life Insurance can be
improved. Study the perception of the consumers about the company.
9
In insurance companies recruitment of Financial Consultant plays a very important role
to generate high sales. The overall business depends upon the Financial Consultant. So to
understand the sales performance of Financial Consultant evaluation program plays vital role.
Life insurance companies offer their services to the customers through the agents and
Financial Consultant. So Financial Consultant plays a very important role for Company.
Because Financial Consultant is the only persons who approach to the customers,
understand their needs, problems. So the overall business depends upon consumers. For this
purpose this Project is carried out to analysis sales performance through Financial Consultants
which is an endless procedure for organization for the awareness among consumers.
STATEMENT OF THE PROBLEM: This study was undertaken to identify how the
consumers react to different plans offered by Max Life Insurance. It is primarily known to the
company that the main work is to generate maximum sales. To access up-to-date information
the Max Life Insurance. keeps a track about its customers, relationships and the market
situation, helps in answering question such as what is the market potential for my product,
how are my customers behaving, and how efficient are my sales process?
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INTRODUCTION
Life insurance is a form of insurance that pays monetary proceeds upon the death of the
insured covered in the policy. Essentially, a life insurance policy is a contract between the
named insured and the insurance company wherein the insurance company agrees to pay an
agreed sum of money to the insured's beneficiary. With a large population and the untapped
market area insurance happens to be a very big opportunity in India. Today it stands as a
business
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growing at the rate of 15-20% annually. Together with banking services, it adds about 7
percent to the country’s GDP. In spite of all this, the growth statistics of the penetration of the
insurance in the country is very poor. Nearly 80% of Indian population is without life and
health insurance cover. This is an indicator that growth potential for the insurance sector is
immense in India. It was due to this immense growth that the regulations were introduced in
the insurance sector and in continuation “Malhotra Committee” was constituted by the
government in 1993 to examine the various aspects of the industry. The key element of the
reform process was participation of overseas insurance companies with 26% capital. Creating
a more competitive financial system suitable for the requirements of the economy was the
main idea behind this reform.
Since then the insurance industry has gone through many changes. The liberalization
of the insurance industry has never looked back and today stand as one of the most
competitive and exploring industry in India. The entry of the
private players and the increased use of the new distribution are in the limelight today.
The use of new distribution techniques and the IT tools has increased the scope of the industry
in the longer run. Insurance is the business which provides protection against financial aspects
of risk, such as those to property, life, health and legal liability.
In insurance the insured makes payment called “premiums” to an insurer, and in
return is able to claim a payment from the insurer if the insured suffers a defined type of
loss. This relationship is usually drawn up in a formal legal contract.
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CLASSIFICATION OF INSURANCE
The insurance industry in India can broadly classified in two parts. They are.
1) Life insurance.
2) Non-life (general) insurance.
LIFE INSURANCE
Life insurance can be defined as “insurance that provides a sum of money if the person who is
insured dies while the policy is in effect”. In 1818 British introduced to India, with the
establishment of the oriental life insurance company in Calcutta. The first Indian owned Life
Insurance Company was the Bombay mutual life assurance society which was set up in
1870. The life insurance act, 1912 was the first statuary measure to regulate the life insurance
business in India. In 1983, the earlier legislation was consolidated and amended by the
insurance act, 1938, with comprehensive provisions for detailed effective control over
insurance. The union government had opened the insurance sector for private participation in
1999, also allowing the private companies to have foreign equity up to 26%. Following the
opening up of the insurance sector, 12 private sector companies have entered the life insurance
business.
The need to safeguard the family brings in the need for life insurance. Today insurance has
become even more important due to the disintegration of the prevalent joint family system, in
which a number of generations co-existed in
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harmony, and a system in which a sense of financial security was always there as there were
more earning members.
Times have changed and the nuclear family has emerged. Apart from other pitfalls of a nuclear
family, a high sense of insecurity is observed in it today besides, the family has shrunk. Needs
are increasing with time and fulfillment of these needs is a big question mark.
How will you be able to satisfy all those needs? Better lifestyle, good education, a long desired
house. But again one just cannot fritter away all your earnings. You need to save a part of it
for the future too – a wise decision. This is where insurance helps. Factors such as fewer
number of earning members, stress, pollution, increased competition, higher ambitions etc are
some of the reasons why insurance has gained importance and where insurance plays a
successful role.
Life Insurance ensures that a person gates better prepared to face the uncertainties in the
following ways:
PROTECTION
You need life insurance to be there and protect the people you love, making sure that your
family has a means to look after itself after you are gone. It is a thoughtful business concept
designed to protect the economic value of a human life for the benefit of those financially
dependent on him.
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RETIREMENT
Life insurance makes sure that you have regular income after you retire and also helps you
maintain your standard of living. It can ensure the post – retirement years are spent in peace
and comfort.
SAVINGS AND INVESTMENTS
Insurance is a means to Save and Invest. Your periodic premiums are like Savings and you are
assured lump sum amount on maturity. A policy can come in really handy at the time of your
child’s education or marriage! Besides, it can be used as supplement retirement income!
TAX BENEFITS
Life insurance is one of the best tax saving options today. Your tax can be saved twice on a
life insurance policy-once when you pay your premiums and once when you receive maturity
benefits. Money saved is money earned!
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Tax relief-income tax.
TYPES OF POLICIES
Though there are a lot of policies available in the market under different names and by
different companies, the policies can be broadly classified into the following categories.
FUNCTIONS OF INSURANCE
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· Primary Functions
· Secondary Functions
· Other Functions
is a device to share the - The primary function of insurance is to provide protection against
future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but
can certainly provide for the losses of risk. Insurance is actually a protection against economic
loss, by sharing the risk with others.
financial loss of few among many others. Insurance is a mean by which few losses are shared
among larger number of people. All the insured contribute the premiums towards a fund and
out of which the persons exposed to a particular risk is paid.
Assessment of risk - Insurance determines the probable volume of risk by evaluating various
factors that give rise to risk. Risk is the basis for determining the premium rate also.
17
Provide Certainty - Insurance is a device, which helps to change from uncertainty to certainty.
Insurance is device whereby the uncertain risks may be made more certain.
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Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable
device to prevent unfortunate consequences of risk by observing safety instructions;
installation of automatic sparkler or alarm systems, etc. Prevention of losses causes lesser
payment to the assured by the insurer and this will encourage for more savings by way of
premium. Reduced rate of premiums stimulate for more business and better protection to the
insured.
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Means of savings and investment - Insurance serves as savings
and investment, insurance is a compulsory way of savings and it restricts the unnecessary
expenses by the insured's For the purpose of availing income-tax exemptions also, people
invest in insurance.
Risk Free trade - Insurance promotes exports insurance, which makes the foreign trade risk
free with the help of different types of policies under marine insurance cover.
The end of the year 2000 marks a significant change and growth of 'India Insurance' industry
scenario. Monopoly of Public Sector Insurance company marks an end and Private companies
makes inroad. Foreign companies, both Life and General flocked, collaborated and helped
astronomical growth of 'Insurance Industry in India'.
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Triton insurance co. ltd was the first general insurance company to be established in India in
1850, whose shares were mainly held by the British. The first general insurance company to
be set up by an Indian was Indian mercantile insurance co. Ltd., which was stabilized in 1907.
Thereafter many Indian players emerged. The general insurance business was nationalized
after the promulgation of General Insurance Corporation (GIC) OF India undertook the post-
nationalization general insurance business.
Presently there are 12 general insurance companies with 4 public sector companies and
8 private insurers. Although the public sector companies still dominate the general insurance
business, the private players are slowly gaining a foothold. According to estimates, private
insurance companies have a 10 percent share of the market, up from 4 percent in 2001. In the
first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most of the
new entrants reported losses in the first year of their operation in 2001.
With a large capital outlay and long gestation periods, infrastructure projects are
fraught with a multitude of risks throughout the development, construction and operation
stages. These include risks associated with project implementation, including geological risks,
maintenance, commercial and political risks. Without covering these risks the financial
institutions are not willing to commit funds to the sector, especially because the financing of
most private projects is on a limited or non- recourse basis. Insurance costs constitute roughly
around 1.2-2 percent of the total project costs. Under the existing norms, insurance premium
payments are treated as part of the fixed costs. Consequently they are treated as pass-through
costs for tariff calculations.
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Insurance, like project finance, is extended by a consortium. Normally one insurer
takes the lead, shouldering about 40-50 per cent of the risk and receiving a proportionate
percentage of the premium. The other companies share the remaining risk and premium. The
policies are renewed usually on an annual basis through the invitation of bids.
Of late, with IPP projects fizzling out, the insurance companies are turning once again
· Life Insurance is the only sector which garners long term savings.
· Spread of financial services in rural areas and amongst socially less privileged.
· Long term funds for infrastructure.
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· Inadequate and inflexible products
· Pensions: Small part of product offer
IT
Access SERVICE
POINTS
Advisors Call Centers Shorter time around time
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NEW YORK LIFE INSURANCE CO.
LTD
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MAX INDIA LTD
25
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Max New York Life Insurance
Max New York Life Insurance Company Ltd. is a joint venture between New York Life; a
Fortune 100 company and Max India Limited; one of India's leading multi-business
corporations. The company has positioned itself on the quality platform. In line with its vision
to be the Most Admired Life Insurance Company in India, it has developed a strong
corporate governance model based on the core values of excellence, honesty, knowledge,
caring, integrity and teamwork. The strategy is to establish itself as a Trusted Life
Insurance Specialist through a quality approach to business.
Incorporated in 2000, Max New York Life started commercial operation in 2001. In line with
its values of financial responsibility, Max New York Life has adopted prudent financial
practices to ensure safety of policyholder's funds. The Company's paid up is Rs. 1,432 core.
Having set a Best in Class Agency Distribution Model in place, the company is
spearheading a major thrust into additional distribution channels to further grow its business.
The company has multi-channel distribution that includes the agency distribution, partnership
distribution, banc assurance, distribution focused on emerging markets and alliance marketing
through employed sales force. The company currently has 33 banc assurance relationships,
14 corporate agency
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tie-ups and direct sales force at 14 locations. Max New York Life has put in place a unique
hub and spoke model of distribution to deepen rural penetration. The company has 39 (9 hub
office 30 spoke offices) offices dedicated to emerging markets in Punjab and Haryana. Max
New York Life offers a suite of flexible products. It now has 35 products covering both life
and health insurance and 8 riders that can be customized to over 800 combinations enabling
customers to choose the policy that best fits their need. Besides this, the company offers 6
products and 4 riders in group insurance business. The company currently has more than
13,295 employees.
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COMPANY PROFILE
“Max New York Life wants people to view insurance as a financial protection and wealth
creation instrument and not just a tax-saving tool.”
Max New York Life Insurance Company Ltd. is a joint venture between New York Life, a
Fortune 100 company and Max India Limited, one of India's leading multi-business
corporations. The company has positioned itself on the quality platform. In line with its vision
to be the most admired life insurance company in India, it has developed a strong corporate
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values of excellence, honesty, knowledge, caring, integrity and teamwork. The strategy is to
establish itself as a trusted life insurance specialist through a quality approach to business.
New York Life is a Fortune 100 company that has over 160 years of experience in the life
insurance business. Max India Limited is a multi-business corporate dealing in Clinical
Research, IT and Telecom Services, and Specialty Plastic Products businesses.
Max New York Life Insurance started its operations in India in 2000. It is the first life
insurance company in India to be awarded the IS0 9001:2000 certifications. Max New York
offers customized products tailored to suit individual's needs. With its various Products and
Riders, there are more than 400 product combinations to choose from. Today, Max New York
Life Insurance has a network of 57 offices spread over 37 cities all over India.
In line with its values of financial responsibility, Max New York Life has adopted prudent
financial practices to ensure safety of policyholder's funds. The Company's paid up capital is
Rs. 657 crore, which is more than the norm laid down by IRDA.
Max New York Life has identified individual agents as its primary channel of distribution.
The Company places a lot of emphasis on its selection process, which comprises four stages -
screening, psychometric test, career seminar and final interview. The agent advisors are
trained in-house to ensure optimal control on quality of training.
Max New York Life, one of India’s leading life insurance companies, expanded its presence
in the southern region by opening its first general office in the city of Mysore. Max New York
Life now has established a countrywide network of
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172 offices and representatives across 120 cities in India. The company has over 25,300 agent
advisors, who are widely considered the best in the business. Max New York Life aspires to be
the "life insurance brand of first choice" amongst Indian consumers.
“Max New York Life wants people to view insurance as a financial protection and wealth
creation instrument and not just a tax-saving tool. Since the launch of our operations, our
focus has always been on providing risk protection and long-term wealth creation solutions to
our customers. With a diverse product portfolio to meet customer requirements, it is evident
that we are setting benchmarks in the marketplace and are well on course of realizing our
vision to become India’s most admired Life Insurance Company.
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VISION:
MISSION:
· Be a national player
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INSURANCE MANAGEMENT SOLUTION
33
34
Types of business proposal:
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Individual
For individuals, we have a range of protection, investment, pension and savings plans that
assist and nurture dreams apart from providing protection. You can choose from a range of
For organizations we have a host of customized solutions that range from Group Term
Insurance, Gratuity, Leave Encashment and Superannuation Products. These affordable plans
apart from providing long term value to the employees help in enhancing goodwill of the
company.
Protection Plans
Life is full of surprises. Unexpected events that strike without warning can disrupt the smooth
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primary earning member, you need to make sure that your family is never lacking in anything
even if you are taken away from them forever. Do your best today to ensure that your family
can always enjoy a comfortable lifestyle. In double income families, both spouses should get
adequate life covers especially if there are dependent children involved. We have plans that
guarantee maximum protection at a low cost.
· Five Yr Renewable and Convertible™
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Children Plans
Your parenting is perfect but is your planning adequate? Are you thinking beyond the
immediate to the future, about higher education and professional courses, in India and abroad?
Many children are keen to pursue unconventional careers. Are you in tune with their
aspirations and passions? As parents you would never let money come in the way of your
children and the fulfillment of their true potential. Our plans will help build the corpus that
allows your children to dream big and soar high.
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· Children's Endowment to 18 (Par)
· Children's Endowment to 24 (Par)
· SMART Steps™
· SMART Steps™ Plus, SMART Steps™ Single Premium
Investment Plans
Building a nest egg is about aggregating surplus amounts regularly to allow them to grow into
a sizeable sum. Investments should be aligned to specific, long-term goals. Luxury car, foreign
holiday or dream house, create your own wish list and make it come true. Your dreams are in
your hands. Every move that you make today will bring you a step closer to your goals. Our
Investment Plans offer the dual benefit of protection and market-linked returns with the
flexibility to choose the premium and determine the market exposure.
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· Life Maker™ Premium
· Life Invest™
· SMART Assure
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Retirement Plans
Let your golden years be the most precious of your life, full of freedom and choice. A time to
pursue your hobbies, travel and enjoy the good life. You will never miss your salary cheque or
be constrained by rising inflation. Even as you work hard to make a better today, it is up to
you to create a superior tomorrow. If you want to sustain your current lifestyle even after you
stop working, make that money work for you. Our Retirement Plans will keep you
comfortable and content, and let you live the life you deserve.
· Easy Life™ Retirement (Par)
· SMART Invest™ Pension
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Health Plans
Do you know the cost of healthcare has climbed faster than inflation? Medical costs can be a
big drain on finances. A medical crisis can strike anyone, anytime and may even force an
individual to dip into savings to meet these sudden and steep costs. Such an eventuality could
delay or destroy a cherished financial goal. No wonder, health is wealth. The health of every
member of the family is precious
and you need to safeguard it as a priority. Use our Health Plans to make sure your family stays
fit and fine.
· Lifeline MediCash™
· Lifeline Wellness™ Plus
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· Lifeline MediCash™ Plus
· Lifeline Safety Net™
· Lifeline Wellness™
Savings Plans
Is your money working for you? Clearly not, if it is lying idle in multiple bank accounts. We
will instill the discipline of investment through force of habit as you park your money for
protection and growth to meet your needs over your lifetime. Choose a plan that matches your
needs and budget. Our dual benefits saving plans recognize your need for all round financial
protection, and include a life cover that will protect you till the last day.
· Whole Life Participating
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· 20 year Endowment (Par)
· Life Pay™ Money Back
Rural Plans
We are conscious of our social responsibility to serve the financially vulnerable sections of
society. We have created specialized Rural Plans to meet the particular needs of customers in
rural areas. The ticket size has been kept low, the premiums are affordable and the procedures
are simple. Customers in rural areas can now find a plan to meet their unique requirements.
Easy Term Policy
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Strategic Products Plans
Most people desire a carefree life. They want to be happy and comfortable at all times. But
needs keep evolving and you must always be one step ahead. Our Strategic Products Plans will
meet your special needs and are available through additional distribution channels. You can
choose a plan to meet the planned events and unforeseen incidents in your life.
Banc assurance
Capital Builder
Additional Distribution
· Max Mangal™
· Capital Builder
· Max Vriksha™
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Max Am sure
· Future Builder
· Business Builder
· Bonus Builder &Secure Returns Builder
Group plans
People are the most valuable asset of any organization. Organizations have to innovate newer
forms of compensation to retain talented employees. Pay and perks are all very fine but an
organization needs to show employees that it cares. Ensuring the financial well being of
employees and their families will earn an organization their enduring trust and loyalty. Our
Group Plans offer a three-in-one advantage, as they are a powerful tool for motivation, reward
and retention, in these times of high attrition.
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RESEARCH METHODOLOGY
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E) Presentation of findings
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OBJECTIVES OF THE STUDY
The professional objectives which are being covered under this project are as following-
· To know about demographic factors affecting Product of Max Life Insurance.
· To analyze the role of advertisement for Max Life Insurance Companies.
· To know the perception and conception of customers towards Insurance products and
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Scope of the study
This study is conducted to analyze the market stand of Max Life insurance with that
of other insurance companies in India.
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DATA COLLECTION
Secondary Data:
It means data that are already available i.e. they refer to data which are already collected and
analyzed by someone else. Secondary Data may be either published data or unpublished data.
Usually published data are available in:-
1) Books Magazines and newspapers
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2) 2)Public record and statistics
DATA ANALYSIS
sampling technique:-
For preparation of questionnaire the basic objective of the survey was concentrated,
previous surveys under taken prospect cart secondary data through files and folders. For the
survey, Convenience Sampling this method involves purposive or deliberate selection of
particular units of the universe which are available on the case of access for constituting a
sample which representing universe.
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1. Tables.
2. Pie charts.
3. Bar diagrams.
4. Percentage method has been used to analyze the data.
LIMITATIONS
3) Customers were not fully aware of various plans of max life insurance.
4) Accurate results could not be found as every customer has his own opinion.
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DATA ANALYSIS AND INTERPRETATION
54
Qualification of the respondents.
Graduate 52 52%
Diploma 8 8%
100
80
60
40
20
0
PERCENTAGE
NO.OF.RESPONDENT
55
INTERPRETATION:
From the survey it was found that amongst 100 respondents
a) 52% of the respondents were graduate
b) 29% of the respondents were post graduate
c) 8% of the respondents were diploma
d) 10% of the respondents were other discipline
Others TOTAL
100
80
60
40
20
0
NO.OF.RESPONDENT
56
INTERPRETATION:
From the survey it was found that amongst 100 respondents
a) 34% of the respondents are businessmen.
b) 18% of the respondents are professionals.
c) 37% of the respondents are job holders.
d) 11% of the respondents are background.
Up to 1 lakh 33 33%
1 lakh - 3 lakh 43 43%
3 lakh - 5 lakh 20 20%
5 lakh & above 4 4%
TOTAL 100 100%
100
80
Up to 1 lakh
1 lakh - 3 lakh 60
3 lakh - 5 lakh
40
5 lakh & above
TOTAL 20
0
NO.OF.RESPONDENT
57
INTERPRETATION:
From the survey it was found that amongst 100 respondents
a) 33% of the respondents have an average annual income up to 1 lakh
b) 43% of the respondents have an average annual income from 1 lakh to 3 lakh
c) 20% of the respondents have an average annual income from 3 lakh to 5 lakh
d) 4% of the respondents have an average annual income above 5 lakh
FAMILY SIZE
28%
50%
below 5 members
5- 10 member
above 10 member
32%
58
INTERPRETATION:
From the survey it was found that amongst 100 respondents
a) 50% of the respondents are below 5 members.
b) 32% of the respondents are between 5 to 10 members.
59
INTERPRETATION:
From the survey it was found that amongst 100 respondents
No 17 17%
Yes 83 83%
TOTAL 100 100%
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Awareness of Max Life Insurance
TOTA
No Yes L
100
80
60
40
20
0
NO.OF.RESPONDENT
INTERPRETATION:-
Yes 70 70%
No 30 30%
TOTAL 100 100%
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INTERPRETATION :-
% of respondents who are under different plans of Max life insurance co:
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INTERPRETATION:
From the survey it was found that amongst 100 respondents:
a) 30% of the respondents are under invest gain plan
b) 36% of the respondents are under protection gain plan
c) 8% of the respondents are under child gain plan
d) 15% of the respondents are under whole life plan
e) 11% of the respondents are under pension gain plan
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Benefits of Particular Products
100
90
80
70 Risk coverage
60 Additional
50 benefit
40 Maturity date
30
20 Sum Assured
10 TOTAL
0
1 2
INTERPRETATION:
a) 60% of the respondents say that a benefit of choosing the particular Product is
for Safety of life.
b) 20% of the respondents say that a benefit of choosing the particular products is for
additional benefit to family.
c) 12% of the respondents say that a benefit of choosing the particular products is for
maturity date.
d) 8% of the respondents say that a benefit of choosing the particular products is for sum
assured.
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INTERPRETATION:
Has media been the source of information for various plans of max life insurance co:
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INTERPRETATION:
From the survey it was found that amongst 100 respondents:
60% respondents have media as the source of information for various plans.
40% respondents do not have media as the source of information for various plans.
Which source of media has provided information for the various plans offered by
M.L.I:
66
INTERPRETATION:
From the survey it was found that amongst 100 respondents 30%
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FINDINGS
Maximum insurance holders fall under the average annual income ranging between 1-
3 lakhs.
Insurance holders under M.L.I prefer protection gain plan above all the other plans
offered to them.
Television media is one of the major source that provides information regarding
different plans of M.L.I.
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RECOMMENDATIONS
People should also be made aware of various other benefits attached with insurance
other than the factor of risk coverage only.
Insurance plans should be designed in such a way that it is able to cater all family
sizes.
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70
CONCLUSION
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BIBLIOGRAPHY
Website:
www.maxlife.com
www.google.com
www.wikipedia.org
Other Sources
Insurance Administration 2nd Edition by Jane Light cap Brown, PH.D. Film & ETC.
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ANNEXURES
QUeStIONNaIre
NAME:
AGE:
GENDER: MALE FEMALE
ADDRESS:
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Upto 1 lakh 1 lakh – 3 lakh
3 lakh – 5 lakh 5 lakh and above
No Yes
No Yes
Q6) which category of Max Life insurance plan have you preferred?
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Q7) What benefits do you prefer while choosing an insurance plan of Max life insurance?
Q8) Are you satisfied with the services of Max life Insurance ?
No Yes
Q9) Has media been the source of information for various plans offered by Max life
Insurance?
No Yes
Q10) Which source of media has provided information for the various plans offered by
Max life insurance?
Newspaper Television
Magazine Radio
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